While Lodgment of the Import Documents

Immediately Upon receipt of import documents the L/C Opening Bank examines all the documents thoroughly to ensure that the terms and conditions as laid down in the Credit have been complied with. On Security if it is found that the documents drawn are in conformity with the terms of the credit, the bank lodges the documents in PAD/Bill of exchange and the following vouchers are passed-

Debit- PAD/BE A/C ......................................................... tk
(Converted the bill amount at B.C Rate prevailing on the day of lodgement)

Credit - H.O. A/C ............................................................. tk
(Converted the bill amount at T.T rate prevailing on that date & Dr. TRV is sent along with a atatement of the transaction)

Credit: - Exchange A/C .................................................... tk



Reversal of contra Liability Voucher

Debit- Bankers Liability for Acceptance on L/C ................................. Tk

Credit- Customers Liability for Acceptances on L/C ........................... Tk




While Retirement of the Import Documentss:

Immediately after the lodgement of the import documents the bank request the importer for retirement of the documents against payment of bill amount and other charges payable. The Importer places fund in his account and the bank passes following vouchers in retiring documents:


Debit - Margins on L/C account ................................................... Tk

Debit - Importers authorized account ........................................... Tk

Credit - PAD/BE account .........................................................................Tk

Credit - Income account interest on PAD/BE........................................... Tk

Credit - Admissible commission account................................................. Tk

Credit - Miscellaneous earning (if any) ................................................... Tk




Note: The issuance commission of the bank is charges quarterly for Credits from date of issuance date until date payment, Credit expiry or maturity of a deferred payment undertaking..